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Direct Materials Conversion Beginning work in proces Units Percent Complete Percent Complete Direct materials $ 18,550 Conversion 2,280 $ 20,830 Beginning work in process inventory

Direct Materials Conversion
Beginning work in proces Units Percent Complete Percent Complete
Direct materials $ 18,550
Conversion 2,280 $ 20,830 Beginning work in process inventory 2,000 100% 20%
Units started this period 32,500
Costs added this period Completed and transferred out 32,000
Direct materials 357,500 Ending work in process inventory 2,500 100% 60%
Conversion 188,670 546,170
Total costs to account for $ 567,000
UNITS
Whole Units Equivalent Units
Direct Materials Conversion
Units to account for:
Beginning work in process 2000
Units started this period 32500
Total units to account for 34500
Units to be assigned costs:
Beginning work in process 2000 0 1600
Units started and completed 30000 30000 30000
Ending work in process 2500 2500 1500
Total units accounted for 34500 32500 33100
Costs
Direct Materials Converstion Total
COSTS
Cost per equivalend unit:
Costs added this period $ 357,500 $ 188,670 $ 546,170
Equivalent units of production 32500 33100
Cost per equivalent unit of production $ 11.00 $ 5.70
Costs assigned to production:
Beginning work in process $ 18,550 $ 2,280 $ 20,830
Costs added this period $ 357,500 $ 188,670 $ 546,170
Total costs accounted for by the Molding dept. $ 376,050 $ 190,950 $ 567,000
Costs allocated to completed and partially
completed units:
Beginning work in process $ 18,500 $ 2,280 $ 20,830
To complete work in process $ - $ 9,120 $ 9,120
Costs of completed July 1 work in process $ 18,550 $ 11,400 $ 29,950
Started and completed in July $ 330,000 $ 171,000 $ 501,000
Transferred out in July $ 348,550 $ 182,400 $ 530,950
Inventory in process, July 31 $ 2,750 $ 8,550 $ 36,050
Total costs accounted for $ 376,050 $ 190,950 $ 567,000
Cost of Production Report- FIFO Method
For Month Ended July 31

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